{"id":3418,"date":"2009-08-20T11:24:09","date_gmt":"2009-08-20T16:24:09","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3418"},"modified":"2009-08-20T11:24:09","modified_gmt":"2009-08-20T16:24:09","slug":"usdjpy-deteriorates-to-our-2nd-tier-downtrend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/08\/20\/usdjpy-deteriorates-to-our-2nd-tier-downtrend-line\/","title":{"rendered":"USD\/JPY Deteriorates to our 2nd Tier Downtrend Line"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY\u2019s deterioration has continued well past its psychological 95 level and our important 1st tier uptrend line.\u00a0 Investors have been favoring the Yen over the Dollar amid warnings from investor heavyweights Buffet and El-Erian that the Dollar could be under severe selling pressure over the long-term if the government doesn\u2019t tighten liquidity appropriately.\u00a0 Such news coupled with disappointing U.S. employment data and large pullbacks in the Shanghai Composite Index (SCI) have led investors to buy up the Yen.\u00a0 The USD\/JPY\u2019s recent downturn seems to be more exaggerated than what we\u2019ve witnessed in both the Cable and the EUR\/USD.<\/p>\n

The collapse of the USD\/JPY\u2019s 1st tier uptrend line is a bit disconcerting, and we have little reason to be positive trend-wise right now.\u00a0\u00a0 However, the currency pair has fought to stay above March lows and our 2nd tier downtrend line.\u00a0 Furthermore, if the USD\/JPY\u2019s immediate-term technical do turn sour, July lows are hanging around as a last resort.\u00a0 The USD\/JPY\u2019s near-term challenge will be to recover to its psychological 95 level so the currency pair can take another short at our 1st tier uptrend line.\u00a0 Our 1st tier uptrend line is gradually approaching its inflection point with our 3rd tier downtrend line, meaning volatility could pick up in the beginning of next week.<\/p>\n

Present Price: 94.70<\/p>\n

Resistances: 94.95, 95.15, 95.44, 95.65, 96.08<\/p>\n

Supports:\u00a0 94.52, 94.36, 94.08, 93.88, 93.52<\/p>\n

Psychological: 95<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/a>.<\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – The USD\/JPY\u2019s deterioration has continued well past its psychological 95 level and our important 1st tier uptrend line.\u00a0 Investors have been favoring the Yen over the Dollar amid warnings from investor heavyweights Buffet and El-Erian that the Dollar could be under severe selling pressure over the long-term if the government doesn\u2019t … <\/p>\n

Continue reading “USD\/JPY Deteriorates to our 2nd Tier Downtrend Line”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3418","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=3418"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3418\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}